India Hits Gas On Road To Becoming Global Powerhouse

Since the early 1990s, India has become one of the fastest-growing economies, second only to China among the world’s major developing countries. While global markets have regained some balance from financial instability in 2008 and 2009, and as crude oil prices have reversed a steep downward trend, rapid industrialization in emerging Asian energy giants India and China continues to drive up oil demand.According to BP’s “Energy Outlook 2030,” India’s projected annual economic growth of 6% until 2030 lags just behind China’s at 6.3% per year, with both countries’ economies and...